Renewable Energy: Environmental Impacts and Economic Benefits for Sustainable Development

Abstract

The inevitable increase in population and the economic development that must occur in many countries have implications for the environment. This is because energy generation processes (e.g., generation of electricity, heating, cooling, or motive force for transportation vehicles and other uses) are harmful and therefore pollutes the ecosystem. Energy is considered to be a key player in the generation of wealth and hence a significant component in economic development. It is central to sustainable development and poverty reduction efforts. It has positive effect on all aspects of development; social, economic, and environmental including livelihoods, access to water, agricultural productivity, health, population levels, education and gender related issues. This makes energy resources extremely significant for every country in the world. In this paper, renewable energy sources, their economic benefits for sustainable development, environmental impact including global warming, advantages and disadvantages and strategies for optimum exploitation for sustainable development are highlighted